India Aviation MRO Market is Expected to be Dominated by Rotary Wing Aircraft through 2029
India aviation MRO market
is generating positive results as the aviation industry in the country is
expected to grow in the forecast years.
According to
TechSci Research report, “India Aviation MRO Market - By Region, Competition Forecast &
Opportunities, 2019-2029”, the India aviation
MRO market is expected to grow because the government initiatives are promoting
growth in the industry. At the same time, the expected rise in the fleet industry
will also generate revenue for the India MRO market in the forecast years. Although the market is in the early stages of
development, India's domestic MRO business offers tremendous growth potential.
The expansion of the sector will mostly be fueled by the rise of the aviation
industry. Dependence on foreign MROs is likely to continue until the regional
MRO industry catches up to its international rivals in terms of scale and
certified breadth of services. Due to the expansion of the aviation sector,
increased manufacturing of aircraft parts and equipment, growing interest from
private players, and establishment of some MRO facilities within India (mostly
with OEM support), companies eager to enter the market and meet the MRO
requirements for military aviation are closely monitoring it.
A few
of the causes promoting the growth of the Indian MRO business are the expanding
fleet of aircraft, rising air traffic, and government measures to support MRO
activity in the nation. The expansion of smaller airlines and India's
development as a hub for low-cost carriers have both aided in the growth of the
MRO sector there. In summary, the Indian MRO business is a vibrant sector with
tremendous potential. The opportunities presented by the nation's increasing
demand for MRO services may be seized by market participants. The government's
initiatives to promote MRO activity in the country and an increase in aviation
traffic are expected to lead to growth in the Indian MRO industry in the future
years.
Although
there is room for expansion, there are significant obstacles in the Indian MRO
sector. The shortage of competent labor, which has an impact on the standard of
services delivered and limits market expansion, is one of the key problems. A
further difficulty that raises the cost of MRO services and reduces their
ability to compete in the international market is the high tax structure, which
includes customs charge. The expansion of the industry is also hampered by a
lack of adequate infrastructure, such as testing and maintenance facilities.
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The India aviation MRO market is
segmented by aircraft type, component, end user, company, and region. Based on
aircraft type, the market is segmented by fixed wing aircraft and rotary wing
aircraft. Based on component, the market is segmented into engine MRO, avionics
MRO, airframe MRO, cabin MRO, landing gear MRO, and others. The market analysis
also studies the region wise segmentation to devise market inti North, South,
east, & West India
The rotary wing
aircraft has the major market share followed by fixed wing aircraft and in the
forecast years rotary wing aircraft might dominate the market share. Further,
the engine MRO segment is expected to witness the highest growth rate in the
category because of the rising fleet and maintenance needs. Similarly, by end
user, the aviation category has the highest growth rate in the forecast period.
Some
of the major companies operating in the India aviation
MRO market include:
- Air
India Engineering Services Ltd (AIESL)
- Air
Works India Engineering Pvt. Ltd
- Deccan
Charters Private Limited
- Indamer
Aviation Pvt. Ltd
- Max
MRO Private Limited
- Taj
Air Ltd
- GMR
Aero Technic Limited
- Bird
ExecuJet Airport Services Pvt Ltd
These are the
key companies in operating in the India aviation MRO market and these companies
are implementing competitive strategies which includes mergers with the
research and development firms, new product developments, and marketing
activities to increase customer outreach. These companies are also focusing on
meeting the regulations of different regional governments and are also
partnering with different research bodies to stay competitive in the market.
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“The rising
government expenditure on defense and rise in fleet in the aviation industry is
generating revenues for the India MRO market and the ongoing M&A and orders
by Air India is expected to generate new scope for the India MRO market. All
such factors are expected to influence market growth in the coming years.” said
Mr. Karan Chechi, Research Director with TechSci Research, a research-based
global management consulting firm.
“India Aviation MRO Market Segmented By Aircraft Type (Fixed Wing
Aircraft, Rotary Wing Aircraft), By Component (Engine MRO, Avionics MRO,
Airframe MRO, Cabin MRO, Landing Gear MRO, Others), By End User (Commercial,
Military, Aviation), By Region, Competition, Forecast and Opportunities, 2029” has evaluated the future growth potential of India aviation
MRO market and provides statistics & information on market size, structure,
and future market growth. The report intends to provide cutting-edge market
intelligence and help decision makers take sound investment decisions. Besides,
the report also identifies and analyzes the emerging trends along with
essential drivers, challenges, and opportunities in the global India aviation
MRO market.
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